NEW
YORK, NY, September 7, 2016 /Sector Newswire/ - MX Gold
Corp. (TSX-V:
MXL) (OTCQX: MXLGF) (Frankfurt: 0DV)
is identified in a newly issued research report by Market Equities
Research Group with several potential catalysts that exist near-term
with potential to result in $148 million market cap for MXL.V.
MX Gold Corp. is currently advancing its Max Mill and Willa
Gold Mine near Revelstoke British Columbia toward becoming Canada's
newest gold mining operation. The Company has ~147 million shares outstanding,
is trading near 34 cents, and is fully-financed thru to 10,000 t bulk
permit. This comprehensive report places a 12 month
price target on shares of MXL.V at C$1.00 based on key valuation
drivers.

Final rehabilitation and upgrades to MX
Gold's 100%-owned MAX Mill are underway, on budget, and expected to
be completed for commencement of production this Q4-2016, starting
with a 10,000 tonne bulk sample sourced from its nearby 100%-owned
Gold/Copper/Silver Willa Deposit. Shares of MXL.V are poised for
upside revaluation as the inherent value and accomplishments are
appreciated by the market.

Intrinsic Value: MAX Mill has a
replacement value of ~100+ million, the WillaMAX Gold Project has a
NPV worth ~$39 million for starters (as per 2016 PEA using US$1,000
gold base case, plus the resource (& related initial mine life) is
open for expansion), the moly resource under the MAX Mill is worth
several millions (NPV of $40M (@ $15/lb Mo)), and the Company has a
loss-carry-forward on the books of ~$50 million (allowing for tax
free production for several years).

Strong PEA Economics: The
WillaMAX All-in Sustaining Costs are estimated at CDN$750/oz gold
(gold is currently trading above CDN $1700). Project economics are
very robust; 83% IRR (after tax), with Cumulative Cash Flow of
$56.1M after 4.25 year mine life (on the West Zone alone).

Since acquiring its interest in the
high-grade, near-production ready Willa Au/Cu/AG
deposit in late 2012 and the Max Mine & Mill
processing facility in late 2013, MX Gold Corp. has been intent on
moving these highly synergistic assets forward toward production.
The Willa deposit is an intensively-explored, high-grade,
production-ready Au / Cu / Ag deposit. Management is marrying this
resource with the Max Mine, located within easy trucking distance
and includes crushing, milling & concentrating facilities, tailing
storage facilities, as well as the underground molybdenum mine,
which ceased production in 2011 due to low prices.

·Substantial
molybdenum deposit remains for long term blue sky potential.
Currently heavily discounted, given time should Mo rise to
$20/lb the gross value of the resource would exceed $300
million. Very low capex to refit mill to accommodate moly
production.

The Analyst sees a
well-delineated, high grade Willa deposit with excellent underground
access - combined with a processing facility that is in excellent
shape and newly retrofitted. They are in good proximity to each
other and ideally suited in terms of scale (i.e. 500 tpd). In
addition, we see a highly motivated management team with a CEO that
has put up several million in financing to move this project along.

Summary
of key value drivers:

1) Achieve Production:
Upon realizing a successful 10,000 tonne bulk sample and reaching
the planned 500 tpd production in 2017 (i.e. under a 75,000 tonne /
yr small mine permit mentioned in July, 2015 news release), the
company will have reached a very significant milestone. The company
could continue mining via renewals, providing time to gain mining
permits.

2) Use of MAX Mill to Process
Additional Resources: The Willa & MAX properties are located in
highly mineralized areas of BC with over a century of production.
Acquiring additional deposits in the area would also represent a
highly significant milestone for the company and facilitate a long
term, highly profitable future for MAX.

3) Blue Sky Mineral Potential:
There is significant, known exploration potential remaining at Willa
that has only seen limited exploration largely due to topography and
the historical emphasis on the West zone. In addition, records
indicate a very promising Tungsten resource at MAX as well as
additional moly resources (see discussion
in report).

4) Remaining
Molybdenum Resource at MAX: The significant remaining, virtually
untouched moly resource at the MAX property provides very
significant option value for MX Gold Corp., particular when viewed
in the context of the mitigating effects of having a MAX mill in
operation, along with the development work completed when the
original MAX moly mine was placed into production. .

5) Management:
MXL.V has highly-accomplished technical leadership; The COO,
Hugh (Bert) McPherson, P.Eng is a former Goldcorp mine manager with
over 37 years of experience managing projects. .

The above target share price was based
on current gold prices (near US$1,300/oz), the company is leveraged
to underlying commodity prices.

Synopsis of reasons the Analyst likes
MX Gold Corp.:

High grade Willa deposit,

MAX processing facility in excellent condition,

Economics of the WillaMax Project makes sense,

Highly aggressive and motivated management,

Experienced and accomplished mining people at the
helm, including Hugh (Bert) McPherson, P.Eng,

Very near-term to production (fully-financed thru
to 10,000 t bulk permit cash flow),

Ability to utilize MAX mill for additional
deposits beyond Willa – combined with location in prolific
mining district in British Columbia with remaining resources
believed to be within trucking distance of MAX,

For these reasons, in view of MX Gold’s
current market cap of ~$49 million, the company appears undervalued
and offers significant upside with favorable risk-reward
characteristics. Upon the realization of a successful bulk sample,
commencement of commercial production pursuant to a small mines
permit, and indications for a successful permitting process, we
could see an upward revision in the market cap for MX Gold Corp. to
the C $148+ million level by mid-2017. A price target of
$1.00+/share may well be warranted. The aforementioned target share
price was based on current gold prices (near US$1,300/oz), the
company is leveraged to underlying commodity prices. Depending on
capx estimates for the project, and any indication that additional
resources may be available for acquisition, the potential for
significant upward revisions to these estimates may be possible,
depending on resource size. Further, the long term option value for
the MAX moly deposit is very substantial, given the size of the
deposit; a heavily discounted value of $10+ million for the moly now
is not unreasonable, however should moly rise to US$20/lb shares of
MXL.V would increase in multiples as the gross value of the Mo
resource would exceed $300 million (note: back in 2008 Roca Mines,
the former owner & operator, was trading at a ~$half-billion market
cap at ~$4/share while producing molybdenum). Should gold and moly
prices cooperate, even modestly, it is not unreasonable to expect to
see MXL.V trade well beyond $1/share.

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contain forward-looking statements regarding future events that
involve risk and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual events or results. Articles, excerpts,
commentary and reviews herein are for information purposes and are
not solicitations to buy or sell any of the securities mentioned.
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